The countdown is on for the new year, which means it’s time to put the pieces in place to kick off 2020 with a bang. And we’re here to make sure you get the right goals down on paper before momentum fizzles.
You’ve probably heard of SMART goals, but if you haven’t, (or haven’t been using them) it is a way to give yourself actionable items that you can achieve and that will steadily grow your real estate business.
SMART refers to goals that are Specific, Measurable, Attainable, Realistic, and Time-bound.
The benefit on using this methodology for your real estate business is that it sets tangible numbers that you can track. You have a concrete measurement for your deadlines throughout the year. A goal such as, “generate more listings in my farm area” does not fit the bill! If you give it the SMART treatment, “generate 20% more listings in my farm area by Q3” you’re giving yourself more tangible (and thus, more achievable) objectives to work with.
First, state exactly what you’re trying to accomplish, and hone in on the daily activity levels that are necessary to accomplish your desired results.
If you’d like to goal yourself at a certain amount of closings this year, this is where you drill down to your daily work to get you there, like how many calls you will make each day in order to generate more leads, more clients, and more opportunities for sales.
What gets measured gets improved, so here you need to address how your activity levels will be measured. If you’re lucky enough to have a CRM that tracks activities, this can be simple, or perhaps you’re manually going to log how many calls, appointments, etc. you make.
Come up with a specific number that accurately defines your goal. You can use percentages (20% increase) or specific numbers (increase by 1,000 visits) to determine your number.
Unrealistic activity levels will not happen, so be sure that while your goals are challenging you, they are not impossible. Not only does this go for realistic activity levels, but you also need to take things like past performance, your budget restraints as far as advertising, marketing, etc. and internal resources and manpower available to you.
You want your personal goals to align with the larger goals of your business as a whole. If you work in a team, make sure your goals are in line with what the business wants to accomplish. (If they aren’t aligned, you may need to have a conversation to adjust expectations, or consider finding a team/franchise that empowers you to achieve the success you desire.)
This is probably one of the most critical components. If you’ve effectively set a measurable goal, it must include a time frame. Don’t be too harsh or too lenient with this. Take an audit of past data and insights into your marketing strategy, and incorporate those results into your future plan.
Increase website visitors by 10% (50 per week to 55 per week) by July 10th, 2017.
Increase seller leads generated by 10% (20 per month to 22 per month) by August 15th, 2017.
Increase new seller leads by 10% (30 each quarter to 33 each quarter) by the end of Q3, 2017.
Increase closes by 25% (20 per year to 25 per year) by December 31, 2017.
When making SMART Goals in Real Estate, it’s helpful to think of some categories when you can set goals and grow your business for the year. Here are some ideas to get you started:
These goals are your growth strategy. Write them down, create action plans around them, and make sure you celebrate your milestone moments and make any tweaks or corrections that will help you stay on track. The goals shown above are samples of some of the things you should be thinking about as you develop your online lead generation strategy and start to grow your business. We’ve got more help where that came from too. How to Create SMART Goals for Real Estate Success
1. Specific Real Estate Goals
2. Measurable Real Estate Goals
3. Achievable Real Estate Goals
4. Relevant Real Estate Goals
5. Time-Bound Real Estate Goals
Real Estate SMART Goals in a Nutshell
Short term goal (weekly or monthly):
Mid-Length Goal (quarterly):
Long-Term Goal (annually):
Where to Use SMART Goals for Real Estate Success
Lead Generation SMART Goals:
Lead Nurturing SMART Goals:
Branding SMART Goals:
Team SMART Goals:
Personal SMART Goals:
A Growth Strategy for Real Estate Success